Axis Bank Ltd.

In a bid to provide add on service to its customers, Axis Bank has entered into a tie-up with UAE Exchange and Financial Services to launch inward remittances through mobile. Under this tie-up, people can send money through any agent locations of UAE Exchange and Financial Services called Xpress Money to a registered mobile number in the country. Xpress Money has 1.35 lakh agent locations operational in 125 countries.

The receiver with the help of codes sent to their registered mobile number can withdraw the money from any of the Axis Bank ATMs. But for the above process the receiver will first have to register himself once at any of Axis Bank branch. This process will also help customer by eliminating the need to visit physical agents and provide documentation every time. 

Besides, in a calendar year the beneficiary can receive a maximum of 30 transactions while the maximum amount one can receive at present is capped at Rs 18,000, per remittance transaction.